India: Oncology chain Healthcare Global IPO to open March 16

Oncology chain Healthcare Global Enterprises Ltd on Wednesday said it will launch its initial public offering (IPO) on 16 March to raise about Rs.650 crore. The issue will close on 18 March.

The Bengaluru-based firm has priced the offer in the band of Rs.205-218 per share. The total issue size will range from Rs.610.9 crore to Rs.649.6 crore.

The company aims to raise about Rs.250 crore by selling new shares, while investors such as Milestone Army Trust, India Build-Out Fund I, PI Opportunities Fund I and V-Sciences Investments Pte Ltd. look to sell 18.2 million shares by way of an offer for sale (OFS).

Private equity fund India Build-Out Fund invested Rs.31 crore in HCG in 2010, while V-Sciences invested Rs.60 crore in the firm in 2013, Mint reported on 29 July.

PI Opportunities holds a 21.11% stake, while India Build-Out and V-Sciences own 17.22% and 16.16%, respectively. The promoter group holds a 29% stake. The offer will constitute 36.83% of the firm’s post-offer paid-up equity share capital.

Kotak Mahindra Capital Co. Ltd, Edelweiss Financial Services Ltd, Goldman Sachs (India) Securities Pvt. Ltd, IDFC Securities Ltd, IIFL Holdings Ltd and Yes Bank Ltd are the financial advisors to the public issue.

The firm will use the primary funds raised through the issue to buy medical equipment, invest in IT software, services and hardware, pre-payment of debt and general corporate purposes.

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This story was first published in Livemint

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.